15 More Floors to Go ICE I

Ice Condos at York and Bremner

Construction Update - September 30th, 2012

Looks like the ICE condos are moving ahead at rapid speed. The tower 1 looks to be up between 42 or 43 floors. So there are still another 15 floors to go plus mechanical. This project is being developed by Lanterra. It is part of the larger Southcore development that includes mixed use residential and commercial spaces. Bremner Avenue is set to become the grand boulevard of the entertainment district between the ACC and Rogers Centre. New developments include the Ripley's Aquarium, CN Tower Base level expansion and Metro Convention Center redevelopment.

Photo from the skybridge at York and Bremner 

ICE Condos - York and Bremner - Construction update

Getting a Mortgage and Mortgage Insurance through The Co-operators for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at The Co-operators include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from The Co-operators is actually one of the major financing costs on home loans. Investment Trusts have no taken to looking to purchase rental properties and acquiring mortgages through financing auctions by the banks looking to shore up their balances sheets in light of stricter government regulation. These regulations have actually made holding residential mortgages by the large financial institutions harder to hold.